Industrial Electric Vehicle Market by Technology Enhancements and Demand Analysis 2021 to 2027

The report presents an in-depth assessment of the Industrial Electric Vehicle Market including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Industrial Electric Vehicle from 2021 till 2027. The report covers the pre COVID-19 historic data, impact of COVID-19 and post-COVID-19 (Corona Virus) impact on various regions and major countries and on the future development of the industry is pointed out.

The Global Industrial Electric Vehicle Market is expected to grow at a CAGR 25.8% during the forecast period (2021 to 2027).

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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Industrial Electric Vehicle Market: Ayton Willow, Bradshaw Electric, Caproni JSC, Crown Equipment Corporation, Hyster-Yale, John Deere, Jungheinrich AG, Kion Group GmbH, Liberty Electric Cars, MAN Truck & Bus AG, Toyota Motor, Valence Technologies, VISEDO Oy, ZNTK Radom and others.

Market Overview:

An electric vehicle operates on electricity unlike its counterpart, which runs on fuel. Instead of internal combustion engine, these vehicles run on an electric motor that requires constant supply of energy from batteries. There are a variety of batteries used in these vehicles. These include lithium ion, molten salt, zinc-air, and various nickel-based designs. Electric vehicles was primarily designed to replace conventional ways of travel as they lead to environmental pollution. Electric vehicles have gained popularity owing to numerous technological advancements. The electric vehicle outperforms the conventional vehicle providing higher fuel economy, low carbon emission & maintenance, convenience of charging at home, smoother drive, and reduced sound from engine. There are three types of electric vehicles-battery, hybrid, and plug-in hybrid electric vehicles.

Recent Developments

In April 2021, Toyota launched the new LS and Mirai models in japan which come with advanced driving assist technology.

In April 2021, BYD launched four new electric vehicle models equipped with Blade batteries in Chongqing. The new vehicle models, Tang EV, Qin Plus EV, Song Plus EV and E2 2021 come with advanced battery safety features.

In April 2021, Volkswagen unveiled the 7 seater EV ID.6 Crozz and ID.6 X produced along with FAW and SAIC in China. The vehicles will be sold only in China. It comes in two battery versions, 58 kWh and 77 kWh and comes in four powertrain configurations.

In March 2021, Volvo showcased its new C40 Recharge model. The vehicle is designed as a pure electric car and has most features similar to its XC60 model. 

In December 2020, Nissan announced 2021 Leaf model in US. The vehicle comes with a choice of battery between 40 kWh and 62 kWh. The mileage ranges between 149 miles and 226 miles per charge.

In July 2020, BYD launched its Han which comes with blade battery and is available in BEV and PHEV versions. It comes with two battery options, 65 kWh option for 314 miles and 77kWh option for 342 miles range. Its PHEV comes with a 13 kWh battery and a 2.0 L gasoline engine and 180 kWh electric motor.

In March 2020, BMW launched the 2nd generation 330e and 330e xDrive in the North American market. The vehicle comes with a 12 kWh battery and an all-electric range of 20-22 miles.

In November 2019, BYD launched its e3 electric sedan in China. It comes with two battery options, 35.2 kWh and 47.3 kWh and a single 70 kW electric motor. The vehicle has a range of around 252 miles.

In May 2019, Hyundai group showcased its new Ioniq electric version with an increased battery of 38.3 kWh (from 28kWh) and a larger range.

Regional Insights:

The Asia Pacific EV market is led by countries like China, Japan and South Korea. China being the world’s largest EV producer and user has a dominance in the EV industry in the region. Their government has taken steps including subsidies for EV buyers, compulsory laws by which all vehicle manufacturers need to manufacture EV’s per number of vehicles manufactured, large support to installation of EV charging points across major cities and regulations against excessive polluting vehicles. Japan and South Korea have also been growing their EV market. Their governments have supported the EV demand growth by installing EV charging stations, making emission norms, setting up deadlines for shifting to full or hybrid EVs from ICE vehicles, etc. India is also working on increasing its EV demand in the market. 

Global Industrial Electric Vehicle Market Split by Product Type and Applications:

This report segments the global Industrial Electric Vehicle market on the basis of Types are:

Two-Wheel

Three-Wheel

Four-Wheel

On the basis of Application, the Global Industrial Electric Vehicle market is segmented into:

Transportation

Agriculture

Others

Regional Analysis For Industrial Electric Vehicle Market:

North America (The United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Influence of the Industrial Electric Vehicle Market Report:
-Comprehensive assessment of all opportunities and risks in the Industrial Electric Vehicle market.
-The detailed study of business strategies for the growth of the Industrial Electric Vehicle market-leading players.
-Conclusive study about the growth plot of the Industrial Electric Vehicle market for forthcoming years.
-In-depth understanding of Industrial Electric Vehicle market-particular drivers, constraints, and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Industrial Electric Vehicle market.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: The Global Industrial Electric Vehicle Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.

The research includes historic data from 2016 to 2021 and forecasts until 2027 which makes the report an invaluable resource for industry executives, marketing, sales, and product managers, consultants, analysts, and stakeholders looking for key industry data in readily accessible documents with clearly presented tables and graphs.

Finally, researchers throw light on the pinpoint analysis of Global Industrial Electric Vehicle. It also measures the sustainable trends and platforms which are the basic roots behind the market growth. The degree of competition is also measured in the research report. With the help of SWOT and Porter’s five analysis, the market has been deeply analyzed. It also helps to address the risk and challenges in front of the businesses. Furthermore, it offers extensive research on sales approaches.

Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.

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